Monthly Archives: January 2013

Top 5 Reasons to Hire a Bankruptcy Attorney

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If you are considering filing for bankruptcy and don’t know which route to take, the following are the top 5 reasons why it’s best to hire a bankruptcy attorney.

1. Bankruptcy Laws are Complicated: The rules on bankruptcy are varied and complex and knowing the filing timeframe, courtroom procedures, and familiarity with the filing process and bankruptcy rules should be handled by a competent bankruptcy attorney.

2. Choosing the Appropriate Bankruptcy Chapter Filing: Depending on the specifics of your case, which bankruptcy filing is best for your case will require an experienced attorney to explain which personal chapter filing is best for your case.
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What are the Basics of a Chapter 13 bankruptcy?

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With ongoing changes in bankruptcy law, more and more people are finding themselves ineligible for traditional Chapter 7 bankruptcy, or liquidation; as a result, the trend is toward more Chapter 13 bankruptcy filings. By filing Chapter 13 bankruptcy, you are essentially entering into a repayment plan that permits you to repay all or a portion of your debts over a certain time period. Furthermore, filing Chapter 13 bankruptcy generally permits you to keep your assets, which does not always occur in a Chapter 7 bankruptcy. Therefore, if you are a person who has substantial assets, as well as a regular income sufficient to repay all or most of your debts, filing Chapter 13 bankruptcy may be the right step for you.